Factors That Affect the Cost of Single Trip Insurance

We all know that purchasing a multi-trip or single trip insurance policy is an essential item on your ‘to-do’ list before you travel. It's not only to cover any unforeseen circumstances and mishaps, but also to provide you with peace of mind whilst you’re on holiday.

However, we can't be certain our insurance policy gives us 100% full cover unless we read the small print or speak to the insurer. Here are some reasons why the costs of a single trip insurance policy could vary.

1. Participating in Winter Sports and Extreme Sports

If you're planning to participate in winter sports on your holiday - such as skiing, snowboarding or extreme sports like skydiving – you'll definitely need a quote from your insurer to cover you for these activities. Most policies cover sports like running and swimming, but for high-adrenaline activities you should be prepared to pay a bit more.

2. Travelling with a Pre-existing Medical Condition

A pre-existing medical condition refers to any current or recent medical problem or hospital treatment. If you have recently suffered and/or are suffering from a medical issue, you will certainly need to take out a policy that covers you for your condition. Remember that medical problems don’t necessarily have to be physical - psychological conditions will also need certain cover. The best thing to do is contact your doctor to make sure you are permitted to travel and then approach your insurer with the information. You will need to answer a medical questionnaire before you are given a quote for any single trip insurance policy – and it's extremely important to be honest.

3. If You Decide to Extend Your Cover

If you decide to extend your holiday you need to ensure that your policy will last for the duration. If you know you often tend to change your plans whilst you are away, you may want to take out a multi-trip or annual policy. Nevertheless, most insurers will allow you to extend policy and, if not, you should be able to purchase a separate one whilst you are away - if you have the means to contact them, of course. If you're planning on camping in Thailand without a phone, laptop or other Wi-Fi device, you should be 100% certain of how long you will need cover.

4. If You Are Away For a Long Period

If your holiday is over three months, for example, you may need to purchase a different kind of policy, depending on the insurer. A single trip insurance policy is often a great value option for a shorter period spent away from home.

5. The Number of People in Your Party

A family policy can provide you with better value if you are travelling together. Initially the quote will seem more expensive compared to being insured as an individual, however it will work out cheaper in the long run.

Any of these factors mentioned above may make your single trip insurance policy more expensive. But, don’t forget, it is necessary to have a policy that actually covers you for all your needs.

Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance and offer a range of policies including single trip insurance, annual, multi-trip and family cover. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.

Writer and Online Marketing Manager in London.